Cardlytics (NASDAQ:CDLX) Price Target Cut to $7.00 by Analysts at Northland Securities

Cardlytics (NASDAQ:CDLX) had its price target lowered by Northland Securities from $14.00 to $7.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts also recently issued reports on CDLX. Lake Street Capital downgraded Cardlytics from a buy rating to a hold rating and decreased their target price for the company from $18.00 to $5.00 in a research note on Thursday. Bank of America reiterated a neutral rating and set a $11.00 price objective on shares of Cardlytics in a research report on Thursday, June 20th. Northland Capmk raised shares of Cardlytics to a strong-buy rating in a report on Tuesday, June 18th. Craig Hallum cut shares of Cardlytics from a buy rating to a hold rating in a research note on Thursday. Finally, Needham & Company LLC downgraded shares of Cardlytics from a buy rating to a hold rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cardlytics currently has an average rating of Moderate Buy and a consensus target price of $9.40.

Cardlytics Price Performance

NASDAQ:CDLX traded up $0.82 during trading hours on Thursday, hitting $3.78. 8,919,065 shares of the stock traded hands, compared to its average volume of 1,382,943. The company has a market cap of $184.40 million, a price-to-earnings ratio of -0.85 and a beta of 1.65. Cardlytics has a 1 year low of $2.89 and a 1 year high of $20.52. The stock has a 50 day moving average price of $8.24 and a 200 day moving average price of $9.55. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 1.30.

Cardlytics (NASDAQ:CDLX) last released its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.12. Cardlytics had a negative net margin of 55.23% and a negative return on equity of 25.36%. The company had revenue of $69.64 million for the quarter, compared to analysts’ expectations of $75.39 million. During the same quarter in the previous year, the company earned ($0.57) EPS. Cardlytics’s revenue for the quarter was down 9.2% on a year-over-year basis. Sell-side analysts forecast that Cardlytics will post -1.8 EPS for the current fiscal year.

Insider Activity at Cardlytics

In other Cardlytics news, major shareholder Clifford Sosin bought 3,746 shares of Cardlytics stock in a transaction dated Monday, May 13th. The shares were purchased at an average cost of $8.99 per share, for a total transaction of $33,676.54. Following the acquisition, the insider now directly owns 6,464,859 shares in the company, valued at approximately $58,119,082.41. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Clifford Sosin acquired 3,746 shares of the stock in a transaction dated Monday, May 13th. The stock was acquired at an average cost of $8.99 per share, with a total value of $33,676.54. Following the purchase, the insider now directly owns 6,464,859 shares of the company’s stock, valued at $58,119,082.41. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Karim Saad Temsamani sold 43,129 shares of Cardlytics stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $8.65, for a total value of $373,065.85. Following the completion of the transaction, the chief executive officer now owns 385,530 shares of the company’s stock, valued at approximately $3,334,834.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,742 shares of company stock valued at $735,905. 4.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cardlytics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Cardlytics by 2.7% in the first quarter. Vanguard Group Inc. now owns 2,211,595 shares of the company’s stock worth $32,046,000 after buying an additional 57,805 shares during the period. General Equity Holdings LP increased its stake in Cardlytics by 31.0% in the fourth quarter. General Equity Holdings LP now owns 624,058 shares of the company’s stock worth $5,748,000 after purchasing an additional 147,843 shares during the period. Renaissance Technologies LLC lifted its position in shares of Cardlytics by 711.9% during the second quarter. Renaissance Technologies LLC now owns 351,035 shares of the company’s stock worth $2,882,000 after purchasing an additional 307,800 shares during the last quarter. Kent Lake Capital LLC bought a new stake in shares of Cardlytics during the first quarter worth $3,622,000. Finally, Brown Advisory Inc. boosted its stake in shares of Cardlytics by 1.7% during the fourth quarter. Brown Advisory Inc. now owns 199,633 shares of the company’s stock valued at $1,839,000 after purchasing an additional 3,257 shares during the period. Hedge funds and other institutional investors own 68.10% of the company’s stock.

About Cardlytics

Cardlytics, Inc operates an advertising platform in the United States and the United Kingdom. It offers Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through their network of financial institution partners through digital channels, such as online, mobile applications, email, and various real-time notifications; and Bridg platform, a customer data platform which utilizes point-of-sale data and enables marketers to perform analytics and targeted loyalty marketing, as well as measure the impact of their marketing.